Houma’s Leading Reverse Mortgage Loan Broker
La Maison Mortgage Corporation is your go-to broker for all your home loan needs. But what about when you’re nearing retirement and need to free up some cash? That’s where a reverse mortgage comes in.
A reverse mortgage is a unique type of loan that allows homeowners 62 or older to convert a portion of their home equity into cash. Unlike a traditional home equity loan, you don’t have to make monthly payments on a reverse mortgage. Instead, the loan is repaid when the house is sold, or the borrower dies or sells the home.
There are several reasons why you might want to consider a reverse mortgage:
- You need extra cash to cover expenses in retirement.
- You want to avoid selling your home or taking out a traditional home equity loan.
- You want to stay in your home and age in place.
- You need to make repairs or improvements to your home.
- You have medical bills or other unexpected expenses.
If any of these reasons resonate with you, contact us today to discuss whether a reverse mortgage is a suitable choice for you.
As an experienced mortgage loan broker, we can walk you through the process and help you make the best decision for your unique circumstances.
Benefits of a Reverse Mortgage
There are several benefits of a reverse mortgage that make it an attractive option for seniors:
- You can stay in your home. A reverse mortgage allows you to age in place rather than selling your home or downsizing.
- The loan is tax-free. The money you receive from a reverse mortgage is not considered income, so you don’t have to pay taxes.
- You don’t make monthly payments. You don’t have to make monthly payments with a reverse mortgage like you would with a traditional home equity loan. Instead, the loan is repaid when the house is sold, or the borrower dies or sells the home.
- You can use the money for anything. There are no restrictions on how you can use the funds from a reverse mortgage. You can use it to cover expenses, make home improvements, or pay for medical bills.
- The interest may be tax-deductible. If you have a traditional reverse mortgage, the interest you pay on the loan may be tax-deductible.
Contact La Maison today to learn more about how a reverse mortgage could benefit you in retirement.
Why Choose La Maison Mortgage Corporation?
There are many loan brokers to choose from, so why should you choose La Maison?
- We are experienced. Our team has decades of experience as a loan broker. We have helped thousands of people get the financing they need to purchase or refinance their homes.
- Our team is knowledgeable. We stay up-to-date on all the latest changes in the mortgage industry. Weam can help you navigate the loan process and get the best possible rate.
- Our team is committed to its clients. La Maison’s number one priority is our clients. We are not satisfied until you are happy with your loan.
- Our team has a proven track record. We have a long list of satisfied clients who have benefited from our expertise.
- Our team is local. We live and work in the community we serve. Our team knows the local market and can help you find the perfect home for your needs.
Contact us today if you’re ready to talk to a mortgage loan officer about getting a reverse mortgage.